This is an extract of our Creation, Assignment And Registration Of Leases document, which we sell as part of our Land Law Notes collection written by the top tier of Oxford students.
The following is a more accessble plain text extract of the PDF sample above, taken from our Land Law Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:
Creation, assignment and registration of leases Creation
This is regulated by our old friend the LPA 1925 o Number of things required:
? S.53(1)(a): All interests must be created by writing signed by the person creating the interest
? S.52(1): Must be created by deed
? S.54(1): All other interests created by parol but not writing have the effect as interests at will only, notwithstanding any consideration given. o Two principal exceptions:
? Assent by personal representative only requires writing
? Short leases need not be entered into with great formality
Indeed. s.54(2): If lease of period not exceeding three years o Then oral lease is acceptable
? So long as stipulates
best rent which could be reasonably obtained without taking a fine
And possession is taken immediately (so lease can't be postponed)
LRA 2002 Sch 1 para 1: Legal leases of less than seven years are overriding interests so long as not discontinuous nor future leases o Equally s.33(2)(b): three year leases can't be registered. o Smith: However, leads to fine distinctions re: "immediate possession"= agreement for lease for a year granted in six months will be fine
? As it is an agreement for immediate possession after grant
? Whereas agreement for immediate lease to take effect in a few days will fall out of the statute. Registration
Legal lease exceeding seven years may be registered in same way as fee simple o Means could be number of legal titles on same plot of land o Smith: point of doing this is protect long leases where freehold land is not actually registered.
? And also to prevent the register of interests on a freehold covenant becoming unduly cumbersome. o Compulsory Registration
? LRA 2002 S.4(2) Whether Landlord title registered or not, every grant of lease for more than seven years must be registered
Otherwise you get no legal estate. o Exceptions to 7 year rule
? Future lease under which possession will be taken in the future must be registered
Because they represent a trap to purchasers. o Therefore not an overriding interest (no occupation) and must be registered to have effect. Under LRA 2002
? LRA 2002 s.3(4) For similar reasons discontinuous leases must be registered.
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